Manufacturing
AP Automation And RPA Can Help Manufacturing Companies Streamline Their Financial Processes, Reduce Costs, And Improve Accuracy, Helping Them To Focus On Their Core Business Activities.
Manufacturing companies need AP (Accounts Payable) automation and RPA (Robotic Process Automation) for a number of reasons:
Data entry errors
Manual data entry is prone to mistakes, leading to incorrect information being recorded on invoices.
Lack of visibility
Invoices can be lost, misfiled, or duplicated, making it difficult to track the status of payments and approvals.
Slow processing times
Manual invoice processing can be time-consuming, leading to payment delays and potentially impacting vendor relationships.
Inadequate approvals
A lack of proper approval processes can result in incorrect payments being made or fraudulent activities going undetected.
Inefficient manual processes
Manual processes are often repetitive and prone to errors, leading to increased costs and decreased efficiency.
Integration issues
if invoicing systems are not integrated with other financial systems, it can lead to data silos and a lack of information flow between departments. Is this happening to you in your
3-Way Match
Automated 3-Way PO Matching with the ability to build in tolerances and business parameters
ERP Integration
Flexible integration, with ability to create seamless data-sharing
Manufacturing companies need AP (Accounts Payable) automation and RPA
(Robotic Process Automation) for a number of reasons:
Data entry errors
Manual data entry is prone to mistakes, leading to incorrect information being recorded on invoices.
Lack of visibility
Invoices can be lost, misfiled, or duplicated, making it difficult to track the status of payments and approvals.
Slow processing times
Manual invoice processing can be time-consuming, leading to payment delays and potentially impacting vendor relationships.
Inadequate approvals
A lack of proper approval processes can result in incorrect payments being made or fraudulent activities going undetected.
Inefficient manual processes
Manual processes are often repetitive
and prone to errors, leading to increased costs and decreased efficiency.
Integration issues
if invoicing systems are not integrated with other financial systems, it can lead to data silos and a lack of information flow between departments. Is this happening to you in your
3-Way Match
Automated 3-Way PO Matching with the ability to build in tolerances and business parameters
ERP Integration
Flexible integration, with ability to create seamless data-sharing
AP (Accounts Payable) data entry errors can lead to several issues, including:
Incorrect Payment Amounts: incorrect data entry can result in incorrect payment amounts being recorded, leading to
over payments or underpayments.
Duplicate Payments: errors in data entry can result in duplicate payments being made, leading to increased costs and the need for
manual reconciliation.
Delayed Payments: incorrect information on invoices can result in delayed payments, potentially impacting vendor relationships
and supplier trust.
Inconsistent Data: inconsistent data entry can result in poor data quality, making it difficult to produce accurate financial reports
and track spending.
Increased Manual Intervention: errors in data entry can require manual intervention to correct, leading to increased costs and
decreased efficiency.
Compliance Risks: incorrect information on invoices can result in non-compliance with accounting and tax regulations, potentially
leading to penalties and reputational damage.
Benefits of the Centreviews AP Automation Solution for Manufacturing
Cloud Infrastructure
Work Anywhere: Process and approve invoices with Centreviews solution at any time, from anywhere, and on any device.
Easy Capture:Invoices and bills are automatically captured into the platform and immediately available for processing.
Around Clock Automated Coding: Billy the Bot, our AI helper equipped with advanced technologies accurately extracts data from invoices in real-time to reduce manual data entry and errors.
Communicate & Approve: Edits, attachments and
questions asked and answered on top of the invoice enable approvers to review and approve faster and be held accountable for bottlenecks.
Functionality and Service
Invoice Tracking: No more lost or forgotten invoices with advanced tracking, automatic notification reminders and ability to mark urgent invoices.
Audit-Ready: Either in-house or external, auditors can be granted limited access to search any invoice and its accompanying information.
Seamless Integration: Securely connect our Centreviews bots with your accounting system to sync invoice data, POs, payment information and more.
Fast Implementation: With no lengthy implementation or extensive training required, you’ll be up and running in days, not months.
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